Lagos Assembly increases 2023 budget, passes N1.768tn

The Lagos State House of Assembly has passed a total of N1,768,014,155,285 as the budget for 2023.

This is against the N1.69tn presented to the assembly by the state governor, Babajide Sanwo-Olu.

The Assembly Speaker, Mudashiru Obasa, thanked the lawmakers for their collective sacrifice and the swiftness with which the Appropriation Bill was handled.

A breakdown of the approved budget size shows the sum of N748,096,508,571 as Recurrent expenditure and N1,019,917,646,713 as Capital expenditure for the year ending 31st December, 2023.

A part of the breakdown for the sectoral allocations also shows that N3,228,396,960 was approved as the new Overhead Cost of the Office of Civic Engagement for drug abuse advocacy.

The sum of N802,987,206 was approved as the new Capital Expenditure of the Ministry

of Economic Planning & Budget while N1,200,000,000 was approved as the new Overhead Cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.

Obasa, who presided over the plenary, said the passion with which the lawmakers processed the bill for passage showed their love for the progress of Lagos State.

He also said, “I hope all the residents of Lagos State would show their satisfaction with lawmakers and the All Progressives Congress by voting for candidates of the APC in Lagos and at the centre during the forthcoming elections.”

Recall that Sanwo-Olu had in October presented N1.69tn ‘budget of continuity’ to the House.